Spotify, other streaming services propose ‘lowest royalty rates in history’ for songwriters

Music streaming service owners including Spotify, Apple, Amazon, Pandora and Google have all filed documents with the US Copyright Royalty Board (CRB) this week to tell them what they think they should pay songwriters for the five years between 2023 and 2027.

Source: Spotify and other streaming services propose ‘lowest royalty rates in history’ for songwriters

Publishers Ask Royalty Board for 32% Rate Increase From Streaming Services

The NMPA asked the Copyright Royalty Board for a 32.4% increase in the headline rate to 20% of a digital service’s revenue for the term covering 2023 through 2027. That compares to the year-by-year escalating headline rate from Phonorecords III, which covered the term of 2018-2022, which culminated in 15.1% of a service’s revenue in the final year.

Source: Publishers Ask Royalty Board for 32% Rate Increase From Streaming Services

Spirit Music Group parent strikes $500m alliance with Northleaf Capital Partners

Spirit Music Group owner Lyric Capital Group and global investment firm Northleaf Capital Partners have struck a strategic alliance, through which funds managed by Northleaf hold an interest in certain music royalty catalogs managed by Lyric, led by Jon Singer, Managing Partner, and Ross Cameron, Partner.

Source: Another massive music deal, as Spirit Music Group parent strikes $500m alliance with Northleaf Capital Partners

UnitedMasters partners with Coinbase to let artists get paid in cryptocurrency

Artists using UnitedMasters can now choose to be paid in US Dollars or in a cryptocurrency of their choice. UnitedMasters says that the goal is “to create more financial opportunities, equity and transparency to the dedicated, rising musicians utilizing our platform and to level the playing field so that they can stay independent and in control of their respective futures”.

Source: UnitedMasters partners with Coinbase to let artists get paid in cryptocurrency

Audio Boom Continues For Publishers, ‘NYT’ Tests New App

New York Times Audio” will offer listeners an accessible and authoritative way to understand the world, the company said today. It will draw from Times podcasts and Times articles, plus third-party sources, such as New York magazine and Rolling Stone, audio formats from the Times newsroom and more.

Source: Publishing Insider: Audio Boom Continues For Publishers, ‘NYT’ Tests New App

Who’s Next: Five Music Companies That Could Follow UMG and Go Public

Universal Music’s stock spinoff shows that equity markets like the sound of music companies — and its stock’s performance so far raises the odds that more companies will join the growing gang of public firms that now includes WMG and three publishing companies. Here’s an informed but speculative guide to which companies are likely candidates, how the market might receive them and what issues they would face.

Source: Who’s Next: Five Music Companies That Could Follow UMG and Go Public

IATSE Sets Strike Date for 60,000 Film and Television Workers, Ratcheting Pressure on Studios

Matthew Loeb, president of the International Alliance of Theatrical Stage Employees, said early Wednesday that unless an agreement is reached, 60,000 union members will begin a nationwide strike against the major studios on Oct. 18 at 12:01 a.m. Such a work stoppage would be catastrophic, halting production across the U.S.

Source: IATSE Sets Strike Date for 60,000 Film and Television Workers, Ratcheting Pressure on Studios

ViacomCBS gets into NFTs via a partnership with NFT startup Recur

The company isn’t offering many details about the upcoming project just yet, beyond simply saying that it will involve creating a place where its fans can buy, collect and trade NFTs across its portfolio. It also notes this platform will encourage “peer-to-peer engagement and facilitate innovative ways for users to unlock new experiences,” which signals there’s a social element to the new experience that goes beyond just the marketplace aspects.

Source: ViacomCBS gets into NFTs via a partnership with NFT startup Recur

Bored Ape Yacht Club NFT Makers Eye Expansion Into Film, TV and Music 

Bored Ape Yacht Club has been a big winner of this year’s NFT market explosion, with hundreds of millions of dollars’ worth of trading volume in a matter of months. Now the creators aim to expand into other media endeavors with the help of a veteran music industry executive.

Source: Bored Ape Yacht Club NFT Makers Eye Expansion Into Film, TV and Music – Decrypt

Spotify expands its in-house podcasts with two more shows focused on artists and creators

The new programs will launch throughout the month of October, with the first being “Spotify: Discover This,” which arrives on October 14. This podcast will include insights on “music, podcasting, cultural moments, and trends,” and will feature a mix of music, artist interviews and other “surprises,” the company says.

Source: Spotify expands its in-house podcasts with two more shows focused on artists and creators
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